The strategy, formerly MicroStrategy, has made its 11th consecutive weekly bitcoin purchase, while MSTR stock is down along with $BTC .
The strategy, formerly MicroStrategy, is not holding back on its Bitcoin acquisition plans despite the recent bearish price action.
Michael Saylor’s company has bought the dip, marking its 11th consecutive weekly BTC purchase. Meanwhile, MSTR stock is down, down about 2% in premarket trading.
The strategy fetches 245 BTC for $26 million.
In a press release, the company announced that it acquired 245 $BTC for $26 million at an average price of $105,856 per bitcoin. It has also achieved a BTC yield of 19.2% year-to-date (YTD). The firm now holds 592,345 BTC, which it acquired at an average price of $70,681 per $BTC for $41.87 billion.
In his usual fashion, Michael Seiler hinted yesterday that he had made another bitcoin purchase when he posted Strategy's Bitcoin Portfolio Tracker.
The purchase comes despite the Israel-Iran conflict, which has seen bitcoin fall below $100,000 for the first time in 45 days.
However, Strategy and Siler continue to show that they are unfazed by this decline, as they continue to accumulate more bitcoins on an unprecedented scale.
Saylor recently reiterated his confidence in the flagship crypto by predicting that BTC will reach $21 million in 21 years.
Amid the latest buyout announcement, MicroStrategy stock is down along with Bitcoin. TradingView data shows that MSTR stock price is down about 2% in premarket trading, trading around $363.
Thanks to its recent decline, MSTR has pared some of its YTD gains and is now up just over 27% since the start of the year.
However, the strategy's stock is still up 169 percent this past year, according to MarketWatch data.
It is worth noting that the latest purchase is the company's eleventh consecutive weekly purchase.
Another weekly purchase this week would tie the firm's record of twelve consecutive weekly bitcoin purchases, which it held in November last year and early February this year.
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